Chicago developer Allison Davis has lost control of a slow-selling $117-million condominium tower overlooking Grant Park, rankling an investor in the project who has sued the lender that took it over.A unit of Boston-based Fidelity Investments reneged on a deal to modify an $18.5-million mezzanine loan to the Columbian, a 46-story building at 1160 S. Michigan Ave., according to the lawsuit, filed last week in Cook County Circuit Court.
Thanks to YoChicago for leading us to this story.
(Image from cribchatter.com)
1 comment:
Anyone know if the previous owner of that lot got the 2 million he wanted or if he got stiffed with the $500,000 that the city wanted to pay?
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